SUN COMMUNITIES INC

For the period ended Dec 31, 2023. Filed Feb 28, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 28, 2024

SUI$120.33+0.0%Stored close · as of Nov 9, 2026

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Contents

Item 2. PROPERTIES

As of December 31, 2023, our properties were located in the U.S., the UK and Canada, and consisted of 353 MH communities, 179 RV communities and 135 marinas.

As of December 31, 2023, our properties contained an aggregate of 227,340 developed sites comprised of 118,430 developed MH sites, 32,390 annual RV sites (inclusive of both annual and seasonal usage rights), 28,490 transient RV sites and 48,030 wet slips and dry storage spaces. There are 17,980 additional MH and RV sites suitable for development. Most of our properties include amenities oriented toward family and retirement living. Of our 667 properties, 318 properties have 300 or more developed sites, with the largest having 2,340 developed MH and RV sites. See "Real Estate and Accumulated Depreciation, Schedule III," included in our Consolidated Financial Statements, for detail on properties that are encumbered.

As of December 31, 2023, our MH and RV properties had an occupancy rate of 96.4% excluding transient RV sites. Since January 1, 2019, our MH and RV properties have a five-year average annual turnover of homes (where the home is moved out of the community) of approximately 3.0% and a five-year average annual turnover of residents (where the resident-owned home is sold and remains within the community, typically without interruption of rental income) of approximately 6.9%. The average renewal rate for residents in our Rental Program was 70.4% for the year ended December 31, 2023.

We believe that our properties' high amenity levels, customer service loyalty, and customer retention program contribute to low turnover and generally high occupancy rates. All of the properties provide residents with attractive amenities with most offering a clubhouse, a swimming pool and laundry facilities. Many of the properties offer additional amenities such as sauna / whirlpool spas, tennis courts, shuffleboard, basketball courts and / or exercise rooms. Many RV communities offer incremental amenities including golf, pro shops, restaurants, zip lines, waterparks, watersports and thematic experiences.

Our MH and RV communities are principally located in the midwestern, southern and southeastern regions of the U.S., in the south of England in the UK and in Canada. Our marinas are principally located in the northeastern, southern, mid-Atlantic, western and midwestern regions of the U.S., with the majority of such marinas concentrated in coastal regions, and others located in various inland regions. We believe that geographic diversification helps to insulate the portfolio from regional economic influences. We have concentrated our properties within certain areas of the regions in order to achieve economies of scale in management and operations.

The following tables set forth certain information relating to our MH and RV properties as of December 31, 2023. The occupancy percentage includes MH sites and annual RV sites and excludes transient RV sites.

Property Name	MH / RV	City / County (UK Only)	State / Country	MH and Annual RV Sites as of 12/31/2023	Transient RV Sites as of 12/31/2023	Occupancy as of 12/31/2023	Occupancy as of 12/31/2022
NORTH AMERICA
UNITED STATES
MIDWEST
Michigan
Academy / West Point	MH	Canton	MI	440	—	99.5%	98.0%
Allendale Meadows	MH	Allendale	MI	350	—	99.7%	97.4%
Alpine Meadows	MH	Grand Rapids	MI	400	—	99.3%	98.5%
Andover	MH	Grass Lake	MI	130	—	97.6%	100.0%
Apple Carr Village	MH	Muskegon	MI	710	—	97.3%	97.5%
Arbor Woods	MH	Ypsilanti	MI	460	—	98.9%	98.0%
Brentwood Village	MH	Kentwood	MI	200	—	96.4%	98.5%
Broadview Estates	MH	Davison	MI	470	—	98.7%	97.9%
Brookside Village	MH	Kentwood	MI	200	—	99.5%	99.5%
Byron Center	MH	Byron Center	MI	140	—	97.9%	97.2%
Camelot Villa	MH	Macomb	MI	710	—	98.5%	98.2%
Charlevoix Estates	MH	Charlevoix	MI	180	—	99.5%	98.9%
Cider Mill Crossings	MH	Fenton	MI	620	—	98.6%	97.6%
Cider Mill Village	MH	Middleville	MI	260	—	98.1%	98.4%
Country Acres	MH	Cadillac	MI	180	—	94.5%	95.1%
Country Hills Village	MH	Hudsonville	MI	240	—	100.0%	100.0%

Property Name · MH / RV · City / County (UK Only) · State / Country · MH and Annual RV Sites as of 12/31/2023 · Transient RV Sites as of 12/31/2023 · Occupancy as of 12/31/2023 · Occupancy as of 12/31/2022
Country Meadows	MH	Flat Rock	MI	580	—	97.4%		98.4%
Country Meadows Village	MH	Caledonia	MI	400	—	100.0%		100.0%
Creek Wood	MH	Burton	MI	340	—	98.8%		98.5%
Cutler Estates	MH	Grand Rapids	MI	260	—	98.8%		99.2%
Dutton Mill Village	MH	Caledonia	MI	310	—	99.3%		98.0%
East Village Estates	MH	Washington Twp.	MI	710	—	99.3%		98.6%
Egelcraft	MH	Muskegon	MI	460	—	99.6%		98.9%
Fisherman's Cove	MH	Flint Twp.	MI	160	—	98.8%		96.3%
Fox Run	MH	Boyne City	MI	140	—	16.4%	(1)	N/A	(2)
Frenchtown Villa / Elizabeth Woods	MH	Newport	MI	1,140	—	97.5%		98.9%
Grand Village	MH	Grand Rapids	MI	220	—	95.9%		97.7%
Hamlin	MH	Webberville	MI	230	—	100.0%		97.0%
Hickory Hills Village	MH	Battle Creek	MI	280	—	99.6%		98.2%
Highland Greens Estates	MH	Highland	MI	880	—	76.0%		67.5%
Holiday West Village	MH	Holland	MI	340	—	99.7%		100.0%
Holly Village / Hawaiian Gardens	MH	Holly	MI	420	—	97.9%		97.9%
Hunters Crossing	MH	Capac	MI	110	—	100.0%		98.2%
Hunters Glen	MH	Wayland	MI	400	—	99.5%		99.7%
Huntington Run	MH	Kalamazoo	MI	210	—	84.5%	(1)	100.0%
Jellystone Park™ Petoskey(3)	RV	Petoskey	MI	50	240	100.0%		100.0%
Kensington Meadows	MH	Lansing	MI	290	—	98.3%		95.5%
Kimberly Estates	MH	Newport	MI	390	—	97.9%		98.4%
King's Court	MH	Traverse City	MI	800	—	99.5%		99.0%
Knollwood Estates	MH	Allendale	MI	160	—	98.1%		96.9%
Lafayette Place	MH	Warren	MI	250	—	96.5%		95.3%
Lakeview	MH	Ypsilanti	MI	390	—	99.0%		97.4%
Leisure Village	MH	Belmont	MI	260	—	100.0%		99.2%
Lincoln Estates	MH	Holland	MI	190	—	99.5%		99.5%
Meadow Lake Estates	MH	White Lake	MI	420	—	99.5%		97.9%
Meadowbrook Estates	MH	Monroe	MI	450	—	96.5%		95.8%
Meadowlands of Gibraltar	MH	Gibraltar	MI	320	—	99.4%		99.4%
Meadowstone	MH	Hastings	MI	230	—	95.7%		97.0%
Northville Crossing	MH	Northville	MI	760	—	99.7%		99.5%
Oak Island Village	MH	East Lansing	MI	250	—	98.4%		97.2%
Pinebrook Village	MH	Kentwood	MI	190	—	99.5%		96.2%
Pineview Estates	MH	Flint	MI	1,010	—	95.7%		86.9%
Presidential Estates	MH	Hudsonville	MI	360	—	99.2%		99.7%
Richmond Place	MH	Richmond	MI	120	—	99.1%		94.9%
River Haven Village	MH	Grand Haven	MI	720	—	98.6%		99.0%
River Ridge	MH	Saline	MI	290	—	99.7%		99.7%
Rudgate Clinton	MH	Clinton Township	MI	670	—	98.8%		99.1%
Rudgate Manor	MH	Sterling Heights	MI	930	—	98.4%		98.0%
Scio Farms	MH	Ann Arbor	MI	910	—	99.6%		99.3%
Sheffield Estates	MH	Auburn Hills	MI	230	—	96.9%		98.2%
Shelby Forest	MH	Shelby Twp.	MI	660	—	98.6%		98.5%
Shelby West	MH	Shelby Twp.	MI	640	—	99.8%		98.8%
Silver Springs	MH	Clinton Township	MI	550	—	98.5%		98.9%
Southwood Village	MH	Grand Rapids	MI	390	—	98.2%		99.0%
St. Clair Place	MH	St. Clair	MI	100	—	98.0%		98.0%
Stonebridge	MH	Richfield Twp.	MI	—	—	N/A	(1)	N/A	(1)
Sun Outdoors Kensington Valley(3)	RV	New Hudson	MI	320	170	100.0%		100.0%

Property Name · MH / RV · City / County (UK Only) · State / Country · MH and Annual RV Sites as of 12/31/2023 · Transient RV Sites as of 12/31/2023 · Occupancy as of 12/31/2023 · Occupancy as of 12/31/2022
Sun Outdoors Petoskey Bay Harbor(3)	RV	Petoskey	MI	10	150	100.0%		100.0%
Sun Retreats Gun Lake(3)	RV	Hopkins	MI	310	20	100.0%		100.0%
Sun Retreats Silver Lake(3)	RV	Mears	MI	230	30	100.0%		100.0%
Sunset Ridge	MH	Portland	MI	500	—	88.2%	(1)	98.7%
Sycamore Village	MH	Mason	MI	400	—	99.2%		98.5%
Sylvan Crossing	MH	Chelsea	MI	280	—	54.4%	(1)	49.1%	(1)
Sylvan Glen Estates	MH	Brighton	MI	480	—	98.9%		98.5%
Tamarac Village	MH	Ludington	MI	300	—	99.3%		98.3%
Tamarac Village RV Resort	RV	Ludington	MI	110	—	100.0%		100.0%
Tanglewood Village	MH	Brownstown	MI	250	—	100.0%		100.0%
Timberline Estates	MH	Coopersville	MI	300	—	99.0%		97.3%
Town & Country	MH	Traverse City	MI	190	—	99.5%		99.0%
Troy Villa	MH	Troy	MI	280	—	90.8%		85.1%
Warren Dunes Village	MH	Bridgman	MI	310	—	100.0%		99.7%
Waverly Shores Village	MH	Holland	MI	410	—	99.8%		100.0%
West Village Estates	MH	Romulus	MI	630	—	98.9%		99.5%
White Lake	MH	White Lake	MI	320	—	98.7%		95.9%
Windham Hills	MH	Jackson	MI	470	—	98.1%		96.8%
Windsor Woods Village	MH	Wayland	MI	310	—	99.4%		98.7%
Woodhaven Place	MH	Woodhaven	MI	220	—	99.5%		94.5%
Michigan Total				32,890	610	97.1%		96.7%
Indiana
Brookside Manor	MH	Goshen	IN	570	—	99.1%		97.5%
Carrington Pointe	MH	Fort Wayne	IN	470	—	99.4%		97.9%
Clear Water	MH	South Bend	IN	230	—	98.7%		98.7%
Cobus Green	MH	Osceola	IN	380	—	99.7%		99.7%
Four Seasons	MH	Elkhart	IN	220	—	97.2%		95.9%
Jellystone Park™ at Barton Lake(3)	RV	Fremont	IN	60	500	100.0%		100.0%
Liberty Farm	MH	Valparaiso	IN	220	—	92.3%		95.5%
Pebble Creek	MH	Greenwood	IN	300	—	99.3%		99.0%
Pine Hills	MH	Middlebury	IN	130	—	97.7%		99.2%
Roxbury Park	MH	Goshen	IN	400	—	95.7%		93.2%
Sun Outdoors Lake Rudolph(3)	RV	Santa Claus	IN	—	530	N/A		N/A
The Willows	MH	Goshen	IN	170	—	93.7%	(1)	82.8%	(1)
Indiana Total				3,150	1,030	97.8%		96.6%
SOUTH
Texas
Austin Lone Star(3)	RV	Austin	TX	80	70	100.0%		100.0%
Bluebonnet Lake	MH	Austin	TX	—	—	N/A	(1)	N/A	(1)
Boulder Ridge	MH	Pflugerville	TX	1,220	—	99.3%		98.6%
Branch Creek Estates	MH	Austin	TX	400	—	99.8%		99.5%
Chisholm Point	MH	Pflugerville	TX	430	—	99.5%		99.3%
Comal Farms	MH	New Braunfels	TX	370	—	98.9%		98.9%
Coyote Ranch Resort(3)	RV	Wichita Falls	TX	—	160	N/A		N/A
Creeks Crossing	MH	Kyle	TX	200	—	94.9%	(1)	56.6%	(1)
Jellystone Park™ at Guadalupe River(3)	RV	Kerrville	TX	—	260	N/A		N/A
Jellystone Park™ at Hill Country(3)	RV	Canyon Lake	TX	—	170	N/A		N/A
Jetstream NASA(3)	RV	Houston	TX	110	90	100.0%		100.0%
Lantana Ranch South	MH	Brookshire	TX	—	—	N/A	(1)	N/A	(1)

Property Name · MH / RV · City / County (UK Only) · State / Country · MH and Annual RV Sites as of 12/31/2023 · Transient RV Sites as of 12/31/2023 · Occupancy as of 12/31/2023 · Occupancy as of 12/31/2022
Lone Star Jellystone Park(3)	RV	Waller	TX	—	350	N/A	N/A
Oak Crest	MH	Austin	TX	650	—	97.9%		98.2%
Pearwood(3)	RV	Pearland	TX	130	10	100.0%		100.0%
Pecan Branch	MH	Georgetown	TX	230	—	98.7%		99.1%
Pine Acre Trails	MH	Conroe	TX	250	—	44.2%	(1)	6.0%	(1)
Pine Trace	MH	Houston	TX	680	—	98.2%		97.6%
River Ranch	MH	Austin	TX	850	—	99.4%		98.9%
River Ridge Estates	MH	Austin	TX	510	—	99.0%		98.4%
Saddlebrook	MH	San Marcos	TX	560	—	99.3%		99.1%
Sandy Lake	MH	Carrollton	TX	50	—	100.0%		100.0%
Sandy Lake RV Resort(3)	RV	Carrollton	TX	210	10	100.0%		100.0%
Stonebridge	MH	San Antonio	TX	330	—	99.1%		100.0%
Summit Ridge	MH	Converse	TX	440	—	97.8%		99.3%
Sun Outdoors Lake Travis(3)	RV	Austin	TX	110	140	100.0%		100.0%
Sun Retreats San Antonio West(3)	RV	San Antonio	TX	110	160	100.0%		100.0%
Sun Retreats Texas Hill Country(3)	RV	New Braunfels	TX	130	240	100.0%		100.0%
Sunset Ridge	MH	Kyle	TX	450	—	72.5%	(1)	76.8%	(1)
Traveler's World	MH	San Antonio	TX	10	—	100.0%		100.0%
Traveler's World RV Resort(3)	RV	San Antonio	TX	30	130	100.0%		100.0%
Treetops(3)	RV	Arlington	TX	130	40	100.0%		100.0%
Woodlake Trails	MH	San Antonio	TX	320	—	99.1%		94.3%	(1)
Texas Total				8,990	1,830	96.1%		94.3%
SOUTHEAST
Florida
Arbor Terrace(3)	RV	Bradenton	FL	330	40	100.0%		100.0%
Ariana Village	MH	Lakeland	FL	210	—	99.5%		99.0%
Bahia Vista Estates	MH	Sarasota	FL	250	—	99.2%		100.0%
Baker Acres(3)	RV	Zephyrhills	FL	310	50	100.0%		100.0%
Big Tree(3)	RV	Arcadia	FL	400	10	100.0%		100.0%
Blue Heron Pines	MH	Punta Gorda	FL	410	—	99.3%		99.8%
Blue Jay	MH	Dade City	FL	210	—	98.1%		99.5%
Blue Jay RV Resort	RV	Dade City	FL	50	—	100.0%		100.0%
Blueberry Hill(3)	RV	Bushnell	FL	380	20	100.0%		100.0%
Brentwood Estates	MH	Hudson	FL	190	—	99.5%		99.5%
Buttonwood Bay	MH	Sebring	FL	410	—	99.3%		99.5%
Buttonwood Bay RV Resort(3)	RV	Sebring	FL	410	120	100.0%		100.0%
Candlelight Manor	MH	South Daytona	FL	130	—	98.4%		99.2%
Carriage Cove	MH	Sanford	FL	470	—	99.6%		99.4%
Central Park	MH	Haines City	FL	130	—	83.6%	(1)	89.5%
Central Park RV Resort(3)	RV	Haines City	FL	260	90	100.0%		100.0%
Citrus Hill(3)	RV	Dade City	FL	180	10	100.0%		100.0%
Club Wildwood	MH	Hudson	FL	480	—	99.6%		99.8%
Colony in the Wood	MH	Port Orange	FL	380	—	94.5%		97.1%
Cypress Greens	MH	Lake Alfred	FL	260	—	99.2%		98.5%
Deerwood	MH	Orlando	FL	570	—	99.8%		99.3%
Ellenton Gardens(3)	RV	Ellenton	FL	160	20	100.0%		100.0%
Fairfield Village	MH	Ocala	FL	290	—	100.0%		100.0%
Flamingo Lake(3)	RV	Jacksonville	FL	180	240	100.0%		100.0%
Forest View	MH	Homosassa	FL	300	—	98.7%		98.7%
Glen Haven	MH	Zephyrhills	FL	50	—	100.0%		100.0%

Property Name · MH / RV · City / County (UK Only) · State / Country · MH and Annual RV Sites as of 12/31/2023 · Transient RV Sites as of 12/31/2023 · Occupancy as of 12/31/2023 · Occupancy as of 12/31/2022
Glen Haven RV Resort(3)	RV	Zephyrhills	FL	200	20	100.0%		100.0%
Goldcoaster	MH	Homestead	FL	540	—	98.9%		99.4%
Goldcoaster RV Resort	RV	Homestead	FL	10	—	100.0%		100.0%
Grand Bay	MH	Dunedin	FL	130	—	100.0%		100.0%
Grove Ridge(3)	RV	Dade City	FL	200	40	100.0%		100.0%
Gulfstream Harbor	MH	Orlando	FL	970	—	99.8%		99.8%
Hacienda Del Rio	MH	Edgewater	FL	800	—	90.9%	(1)	91.0%	(1)
Hidden River(3)	RV	Riverview	FL	250	50	100.0%		100.0%
Holly Forest	MH	Holly Hill	FL	400	—	99.8%		100.0%
Horseshoe Cove RV Resort(3)	RV	Bradenton	FL	410	60	100.0%		100.0%
Indian Creek	MH	Ft. Myers Beach	FL	—	—	—%	(4)	—%	(4)
Indian Creek RV Resort	RV	Ft. Myers Beach	FL	—	—	—%	(4)	—%	(4)
Island Lakes	MH	Merritt Island	FL	300	—	100.0%		100.0%
King's Lake	MH	DeBary	FL	240	—	100.0%		100.0%
Kings Manor	MH	Lakeland	FL	240	—	98.7%		96.2%
Kings Pointe	MH	Lake Alfred	FL	230	—	100.0%		100.0%
Kissimmee Gardens	MH	Kissimmee	FL	240	—	99.6%		99.2%
Kissimmee South	MH	Davenport	FL	140	—	96.5%		96.5%
Kissimmee South RV Resort(3)	RV	Davenport	FL	160	40	100.0%		100.0%
La Costa Village	MH	Port Orange	FL	660	—	100.0%		100.0%
Lake Juliana Landings	MH	Auburndale	FL	270	—	99.3%		98.5%
Lake Pointe Village	MH	Mulberry	FL	360	—	99.4%		99.2%
Lake San Marino RV Park(3)	RV	Naples	FL	330	80	100.0%		100.0%
Lakeland(3)	RV	Lakeland	FL	220	10	100.0%		100.0%
Lakeshore Landings	MH	Orlando	FL	310	—	99.7%		98.7%
Lakeshore Villas	MH	Tampa	FL	280	—	99.6%		98.9%
Lamplighter	MH	Port Orange	FL	260	—	99.2%		99.6%
Majestic Oaks(3)	RV	Zephyrhills	FL	230	30	100.0%		100.0%
Marco Naples(3)	RV	Naples	FL	210	90	100.0%		100.0%
Meadowbrook Village	MH	Tampa	FL	260	—	100.0%		100.0%
Mill Creek	MH	Kissimmee	FL	30	—	100.0%		91.2%
Mill Creek RV Resort(3)	RV	Kissimmee	FL	140	10	100.0%		100.0%
North Lake(3)	RV	Moore Haven	FL	230	40	100.0%		100.0%
Oakview Estates	MH	Arcadia	FL	120	—	92.4%		95.8%
Ocean Breeze Resort - Jensen Beach	MH	Jensen Beach	FL	330	—	87.5%	(1)	79.7%	(1)
Ocean Breeze Resort - Jensen Beach RV Resort(3)	RV	Jensen Beach	FL	70	90	100.0%		100.0%
Ocean Breeze - Marathon	MH	Marathon	FL	50	—	100.0%		100.0%	(5)
Ocean Breeze - Marathon RV Resort	RV	Marathon	FL	—	—	N/A	(5)	—%	(5)
Ocean View	MH	Jensen Beach	FL	70	—	11.3%	(1)	N/A	(1)
Orange City	MH	Orange City	FL	—	—	100.0%		100.0%
Orange City RV Resort(3)	RV	Orange City	FL	510	10	100.0%		100.0%
Orange Tree Village	MH	Orange City	FL	250	—	100.0%		100.0%
Paddock Park South	MH	Ocala	FL	190	—	84.6%		80.9%
Palm Key Village	MH	Davenport	FL	200	—	100.0%		100.0%
Palm Village	MH	Bradenton	FL	150	—	100.0%		100.0%
Park Place	MH	Sebastian	FL	480	—	97.9%		97.7%
Park Royale	MH	Pinellas Park	FL	310	—	99.0%		100.0%
Pecan Park(3)	RV	Jacksonville	FL	160	180	100.0%		100.0%
Pelican Bay	MH	Micco	FL	220	—	97.7%		99.1%
Pleasant Lake RV Resort(3)	RV	Bradenton	FL	330	10	100.0%		100.0%

Property Name · MH / RV · City / County (UK Only) · State / Country · MH and Annual RV Sites as of 12/31/2023 · Transient RV Sites as of 12/31/2023 · Occupancy as of 12/31/2023 · Occupancy as of 12/31/2022
Rainbow	MH	Frostproof	FL	40	—	100.0%		100.0%
Rainbow RV Resort	RV	Frostproof	FL	460	—	100.0%		100.0%
Rainbow Village Largo(3)	RV	Largo	FL	280	30	100.0%		100.0%
Rainbow Village Zephyrhills(3)	RV	Zephyrhills	FL	340	40	100.0%		100.0%
Red Oaks	MH	Bushnell	FL	100	—	92.2%		93.2%
Red Oaks RV Resort(3)	RV	Bushnell	FL	600	310	100.0%		100.0%
Regency Heights	MH	Clearwater	FL	390	—	100.0%		99.2%
Riverside Club	MH	Ruskin	FL	730	—	96.7%		94.2%	(1)
Royal Country	MH	Miami	FL	860	—	99.9%		99.9%
Royal Palm Village	MH	Haines City	FL	390	—	88.9%		87.3%
Saddle Oak Club	MH	Ocala	FL	380	—	99.7%		99.5%
Saralake Estates	MH	Sarasota	FL	200	—	100.0%		99.5%
Savanna Club	MH	Port St. Lucie	FL	1,080	—	98.1%		98.9%
Serendipity	MH	North Fort Myers	FL	340	—	90.5%		92.9%
Settler's Rest(3)	RV	Zephyrhills	FL	330	50	100.0%		100.0%
Shadow Wood Village	MH	Hudson	FL	260	—	96.9%		85.4%	(1)
Shady Road Villas	MH	Ocala	FL	130	—	95.3%		93.8%
Shell Creek	MH	Punta Gorda	FL	50	—	92.6%		98.1%
Shell Creek RV Resort(3)	RV	Punta Gorda	FL	150	30	100.0%		100.0%
Siesta Bay	RV	Ft. Myers	FL	—	—	—%	(4)	—%	(4)
Southern Charm	MH	Zephyrhills	FL	—	—	100.0%		100.0%
Southern Charm RV Resort(3)	RV	Zephyrhills	FL	430	70	100.0%		100.0%
Southern Leisure RV Resort(3)	RV	Chiefland	FL	410	90	100.0%		100.0%
Southport Springs Golf & Country Club	MH	Zephyrhills	FL	550	—	99.5%		99.5%
Spanish Main	MH	Thonotosassa	FL	60	—	98.2%		96.4%
Spanish Main RV Resort(3)	RV	Thonotosassa	FL	250	30	100.0%		100.0%
Stonebrook	MH	Homosassa	FL	210	—	94.0%	(1)	93.5%	(1)
Sun Outdoors Islamorada	MH	Islamorada	FL	60	—	42.9%	(5)	5.0%	(5)
Sun Outdoors Islamorada RV Resort(3)	RV	Islamorada	FL	—	80	100.0%		—%	(5)
Sun Outdoors Key Largo(3)	RV	Key Largo	FL	10	30	100.0%		100.0%
Sun Outdoors Marathon(3)	RV	Marathon	FL	10	80	100.0%		100.0%
Sun Outdoors Panama City Beach	MH	Panama City Beach	FL	40	—	100.0%		97.6%
Sun Outdoors Panama City Beach RV Resort(3)	RV	Panama City Beach	FL	—	160	N/A		N/A
Sun Outdoors Sarasota(3)	RV	Sarasota	FL	1,150	370	100.0%		100.0%
Sun Outdoors St. Augustine(3)	RV	St. Augustine	FL	—	170	N/A		N/A
Sun Outdoors Sugarloaf Key(3)	RV	Summerland Key	FL	—	100	N/A		N/A
Sun Retreats Crystal River(3)	RV	Crystal River	FL	310	90	100.0%		100.0%
Sun Retreats Daytona Beach(3)	RV	Port Orange	FL	180	50	100.0%		100.0%
Sun Retreats Dunedin(3)	RV	Dunedin	FL	200	40	100.0%		100.0%
Sun Retreats Estero Bay(3)	RV	Fort Myers	FL	280	20	100.0%		100.0%
Sun Retreats Fort Myers Beach	RV	Ft. Myers	FL	—	—	N/A	(4)	—%	(4)
Sun Retreats Homosassa River(3)	RV	Homosassa Springs	FL	150	80	100.0%		100.0%
Sun Retreats Lake Josephine(3)	RV	Sebring	FL	170	10	100.0%		100.0%
Sun Retreats Naples(3)	RV	Naples	FL	150	20	100.0%		100.0%
Sun Retreats Naples East(3)	RV	Naples	FL	270	30	100.0%		100.0%
Sun Retreats Ocala Orange Lake(3)	RV	Citra	FL	340	70	100.0%		100.0%
Sun Retreats Orlando ChampionsGate	MH	Davenport	FL	40	—	67.4%	(1)	68.2%	(1)
Sun Retreats Orlando ChampionsGate RV Resort(3)	RV	Davenport	FL	100	170	100.0%		100.0%
Suncoast Gateway	MH	Port Richey	FL	170	—	98.8%		98.8%
Sundance	MH	Zephyrhills	FL	330	—	100.0%		100.0%

Property Name · MH / RV · City / County (UK Only) · State / Country · MH and Annual RV Sites as of 12/31/2023 · Transient RV Sites as of 12/31/2023 · Occupancy as of 12/31/2023 · Occupancy as of 12/31/2022
Sunlake Estates	MH	Grand Island	FL	410	—	97.3%		96.8%
Sunset Harbor at Cow Key Marina	MH	Key West	FL	80	—	98.7%		98.7%
Sweetwater(3)	RV	Zephyrhills	FL	230	60	100.0%		100.0%
Tallowwood Isle	MH	Coconut Creek	FL	270	—	97.1%		97.1%
Tampa East	MH	Dover	FL	30	—	100.0%		100.0%
Tampa East RV Resort(3)	RV	Dover	FL	620	50	100.0%		100.0%
The Hamptons Golf & Country Club	MH	Auburndale	FL	830	—	99.9%		99.9%
The Hideaway	MH	Key West	FL	10	—	100.0%		100.0%
The Hills	MH	Apopka	FL	100	—	99.0%		99.0%
The Landings at Lake Henry	MH	Haines City	FL	390	—	99.5%		99.2%
The Ridge	MH	Davenport	FL	480	—	99.4%		99.8%
The Valley	MH	Apopka	FL	150	—	100.0%		100.0%
ThemeWorld(3)	RV	Davenport	FL	140	10	100.0%		100.0%
Three Lakes(3)	RV	Hudson	FL	280	30	100.0%		100.0%
Tranquility MHC	MH	Bushnell	FL	20	—	48.0%		30.8%
Vista del Lago	MH	Bradenton	FL	140	—	99.3%		100.0%
Vista del Lago RV Resort	RV	Bradenton	FL	40	—	100.0%		100.0%
Vizcaya Lakes	MH	Port Charlotte	FL	120	—	88.9%		95.4%
Walden Woods I	MH	Homosassa	FL	210	—	100.0%		100.0%
Walden Woods II	MH	Homosassa	FL	210	—	100.0%		100.0%
Water Oak Country Club Estates	MH	Lady Lake	FL	1,610	—	80.0%	(1)	79.3%	(1)
Waters Edge(3)	RV	Zephyrhills	FL	190	30	100.0%		100.0%
Westside Ridge	MH	Auburndale	FL	220	—	100.0%		99.1%
Windmill Village	MH	Davenport	FL	510	—	99.8%		99.8%
Woodlands at Church Lake	MH	Groveland	FL	290	—	92.7%		86.9%
Florida Total				40,650	3,760	97.7%		97.4%
Virginia
Jellystone Park™ Chincoteague Island(6)	RV	Chincoteague	VA	50	300	100.0%		N/A
Jellystone Park™ at Luray(3)	RV	East Luray	VA	—	250	N/A		N/A
Jellystone Park™ at Natural Bridge(6)	RV	Natural Bridge Station	VA	70	230	100.0%		100.0%
Pine Ridge	MH	Prince George	VA	380	—	99.7%		99.5%
Sun Outdoors Cape Charles(6)	RV	Cape Charles	VA	60	600	100.0%		N/A
Sun Outdoors Chesapeake Bay(3)	RV	Temperanceville	VA	—	250	N/A		N/A
Sun Outdoors Chincoteague Bay	RV	Chincoteague	VA	—	—	N/A	(1)	N/A	(1)
Sun Retreats Gwynn's Island(3)	RV	Gwynn	VA	120	10	100.0%		100.0%
Sun Retreats New Point	RV	New Point	VA	320	—	100.0%		100.0%
Sun Retreats Shenandoah Valley(3)	RV	Stuarts Draft	VA	450	60	100.0%		100.0%
Sunset Beach RV Resort(6)	RV	Cape Charles	VA	50	250	100.0%		N/A
Virginia Total				1,500	1,950	99.9%		99.8%
SOUTHWEST
California
49'er Village(3)	RV	Plymouth	CA	110	220	100.0%		100.0%
Alta Laguna	MH	Rancho Cucamonga	CA	300	—	100.0%		100.0%
Bel Air Estates	MH	Menifee	CA	200	—	89.9%		88.9%
Caliente Sands	MH	Cathedral City	CA	120	—	99.2%		98.3%
Cisco Grove Campground & RV	RV	Emigrant Gap	CA	20	—	100.0%		100.0%
El Capitan Canyon(3)	RV	Goleta	CA	—	170	N/A		N/A
El Capitan Horse Ranch	RV	Goleta	CA	—	—	N/A		N/A	(2)

Property Name · MH / RV · City / County (UK Only) · State / Country · MH and Annual RV Sites as of 12/31/2023 · Transient RV Sites as of 12/31/2023 · Occupancy as of 12/31/2023 · Occupancy as of 12/31/2022
Forest Springs	MH	Grass Valley	CA	370	—	93.3%	(1)	92.0%	(1)
Friendly Village of La Habra	MH	La Habra	CA	330	—	100.0%		99.1%
Friendly Village of Modesto	MH	Modesto	CA	290	—	99.3%		98.6%
Friendly Village of Simi	MH	Simi Valley	CA	220	—	100.0%		99.5%
Friendly Village of West Covina	MH	West Covina	CA	160	—	99.4%		98.7%
Heritage	MH	Temecula	CA	190	—	100.0%		100.0%
Indian Wells(3)	RV	Indio	CA	170	170	100.0%		100.0%
Jellystone Park™ at Tower Park(3)	RV	Lodi	CA	—	360	N/A		N/A
Lakefront	MH	Lakeside	CA	290	—	100.0%		99.7%
Lakeview Estates	MH	Yucaipa	CA	300	—	99.7%		99.7%
Lazy J Ranch	MH	Arcata	CA	220	—	99.1%		98.6%
Lemon Wood	MH	Ventura	CA	230	—	100.0%		100.0%
Menifee Development	MH	Menifee	CA	—	—	N/A	(1)	N/A	(1)
Moreno 66 Development	MH	Moreno Valley	CA	—	—	N/A	(1)	N/A	(1)
Napa Valley	MH	Napa	CA	260	—	99.6%		100.0%
Oak Creek	MH	Coarsegold	CA	200	—	100.0%		99.0%
Ocean West	MH	McKinleyville	CA	130	—	99.2%		99.2%
Palos Verdes Shores MH & Golf Community	MH	San Pedro	CA	240	—	100.0%		100.0%
Pembroke Downs	MH	Chino	CA	160	—	100.0%		100.0%
Pismo Dunes Resort(3)	RV	Pismo Beach	CA	330	—	100.0%		100.0%
Rancho Alipaz	MH	San Juan Capistrano	CA	130	—	100.0%		100.0%
Rancho Caballero	MH	Riverside	CA	300	—	99.3%		99.7%
Royal Palms	MH	Cathedral City	CA	440	—	99.1%		98.4%
Royal Palms RV Resort	RV	Cathedral City	CA	40	—	100.0%		100.0%
Sun Outdoors Central Coast Wine Country(3)	RV	Paso Robles	CA	—	200	N/A		N/A
Sun Outdoors Paso Robles(3)	RV	Paso Robles	CA	—	330	N/A		N/A
Sun Outdoors San Diego Bay	MH	San Diego	CA	—	—	N/A	(1)	N/A	(1)
Sun Outdoors San Diego Bay RV Resort(3)	RV	San Diego	CA	—	250	N/A		N/A
Sun Outdoors Santa Barbara(3)	RV	Goleta	CA	—	100	N/A		N/A
Sunrise Estates	MH	Banning	CA	180	—	91.7%	(1)	90.6%	(1)
The Colony	MH	Oxnard	CA	150	—	100.0%		100.0%
Vallecito	MH	Newbury Park	CA	300	—	100.0%		100.0%
Victor Villa	MH	Victorville	CA	290	—	98.6%		99.3%
Vines(3)	RV	Paso Robles	CA	50	80	100.0%		N/A
Vista del Lago	MH	Scotts Valley	CA	200	—	99.5%		100.0%
California Total				6,920	1,880	98.8%		98.6%
Arizona
Blue Star	MH	Apache Junction	AZ	—	—	100.0%		100.0%
Blue Star	RV	Apache Junction	AZ	150	—	100.0%		100.0%
Brentwood West	MH	Mesa	AZ	350	—	100.0%		99.7%
Buena Vista	MH	Buckeye	AZ	400	—	98.3%		92.0%
Desert Harbor	MH	Apache Junction	AZ	210	—	99.5%		100.0%
La Casa Blanca	MH	Apache Junction	AZ	200	—	99.5%		99.0%
Leaf Verde(3)	RV	Buckeye	AZ	220	160	100.0%		100.0%
Lost Dutchman	MH	Apache Junction	AZ	220	—	92.0%	(1)	87.2%	(1)
Lost Dutchman RV Resort	RV	Apache Junction	AZ	—	—	N/A		N/A
Mountain View	MH	Mesa	AZ	170	—	97.1%		97.6%
Palm Creek Resort & Residences	MH	Casa Grande	AZ	510	—	82.0%	(1)	78.7%	(1)
Palm Creek Resort & Residences RV Resort(3)	RV	Casa Grande	AZ	1,130	700	100.0%		100.0%

Property Name · MH / RV · City / County (UK Only) · State / Country · MH and Annual RV Sites as of 12/31/2023 · Transient RV Sites as of 12/31/2023 · Occupancy as of 12/31/2023 · Occupancy as of 12/31/2022
Rancho Mirage	MH	Apache Junction	AZ	310	—	99.7%		99.7%
Reserve at Fox Creek	MH	Bullhead City	AZ	310	—	99.4%		99.7%
Spanish Trails West	MH	Casa Grande	AZ	130	—	13.2%	(1)	0.5%	(1)
Spanish Trails West RV Resort(3)	RV	Casa Grande	AZ	10	60	100.0%		N/A	(1)
Sun Valley	MH	Apache Junction	AZ	270	—	98.1%		98.1%
Arizona Total				4,590	920	94.7%		91.3%
Colorado
Cave Creek	MH	Evans	CO	450	—	99.8%		100.0%
Eagle Crest	MH	Firestone	CO	440	—	99.5%		99.8%
Jellystone Park™ at Larkspur(3)	RV	Larkspur	CO	—	540	N/A		N/A
North Point Estates	MH	Pueblo	CO	110	—	99.1%		95.4%
Skyline	MH	Fort Collins	CO	170	—	100.0%		100.0%
Smith Creek Crossing	MH	Granby	CO	310	—	43.2%	(1)	34.8%	(1)
Sun Outdoors Rocky Mountains	MH	Granby	CO	40	—	100.0%		100.0%
Sun Outdoors Rocky Mountains RV Resort(3)	RV	Granby	CO	—	450	100.0%		N/A
Swan Meadow Village	MH	Dillon	CO	170	—	100.0%		100.0%
The Foothills	MH	Fort Collins	CO	—	—	N/A		N/A
The Grove at Alta Ridge	MH	Thornton	CO	410	—	99.8%		100.0%
Timber Ridge	MH	Ft. Collins	CO	580	—	99.1%		99.3%
Willow Crossing	MH	Fort Lupton	CO	220	—	11.9%	(1)	—%	(1)
Colorado Total				2,900	990	87.0%		88.2%
NORTHEAST
Connecticut
Beechwood	MH	Killingworth	CT	300	—	98.7%		98.3%
Cedar Springs	MH	Southington	CT	190	—	98.4%		97.4%
Forest Hill	MH	Southington	CT	190	—	99.5%		97.9%
Grove Beach	MH	Westbrook	CT	140	—	100.0%		100.0%
Hillcrest	MH	Uncasville	CT	210	—	99.0%		99.5%
Lakeside	MH	Terryville	CT	80	—	96.1%		96.1%
Lakeview CT	MH	Danbury	CT	180	—	97.2%		95.0%
Laurel Heights	MH	Uncasville	CT	50	—	91.8%		89.8%
Marina Cove	MH	Uncasville	CT	20	—	92.0%		92.0%
Millwood	MH	Uncasville	CT	40	—	31.1%	(1)	13.3%	(1)
New England Village	MH	Westbrook	CT	60	—	100.0%		100.0%
Oak Grove	MH	Plainville	CT	40	—	93.3%		93.3%
Rolling Hills	MH	Storrs	CT	200	—	82.0%		78.0%
Sun Outdoors Mystic(3)	RV	Old Mystic	CT	70	80	100.0%		100.0%
Three Gardens	MH	Southington	CT	130	—	98.5%		96.3%
Yankee Village	MH	Old Saybrook	CT	20	—	100.0%		100.0%
Connecticut Total				1,920	80	95.0%		93.4%
Maine
Augusta Village	MH	Augusta	ME	60	—	94.9%		94.9%
Birch Hill Estates	MH	Bangor	ME	380	—	99.5%		96.6%
Hancock Heights Estates	MH	Hancock	ME	110	—	97.3%		97.3%
Holiday Park Estates	MH	Bangor	ME	220	—	97.7%		92.7%
Jellystone Park™ Androscoggin Lake(3)	RV	North Monmouth	ME	50	160	100.0%		100.0%
Maplewood Manor	MH	Brunswick	ME	300	—	98.3%		99.3%
Merrymeeting	MH	Brunswick	ME	40	—	100.0%		97.7%

Property Name · MH / RV · City / County (UK Only) · State / Country · MH and Annual RV Sites as of 12/31/2023 · Transient RV Sites as of 12/31/2023 · Occupancy as of 12/31/2023 · Occupancy as of 12/31/2022
Norway Commons	MH	Norway	ME	260	—	74.0%	(1)	83.1%	(1)
Riverside Drive Park	MH	Augusta	ME	160	—	92.6%		81.0%
Sun Outdoors Old Orchard Beach Downtown(3)	RV	Old Orchard Beach	ME	90	230	100.0%		100.0%
Sun Outdoors Saco Old Orchard Beach(3)	RV	Saco	ME	20	170	100.0%		N/A
Sun Outdoors Wells Beach(3)	RV	Wells	ME	—	230	N/A	N/A
Sun Retreats at Wild Acres(3)	RV	Old Orchard Beach	ME	380	250	100.0%		100.0%
Sun Retreats Old Orchard Beach(3)	RV	Old Orchard Beach	ME	260	30	100.0%		100.0%
Town & Country Village	MH	Lisbon	ME	140	—	98.6%		97.9%
Maine Total				2,470	1,070	96.0%		95.4%
New Jersey
Cape May Crossing	MH	Cape May	NJ	30	—	100.0%		100.0%
Deep Run	MH	Cream Ridge	NJ	240	—	100.0%		100.0%
Hospitality Creek Campground(3)	RV	Williamstown	NJ	70	170	100.0%		100.0%
Shady Pines	MH	Galloway Township	NJ	40	—	100.0%		100.0%
Shady Pines RV Resort(3)	RV	Galloway Township	NJ	70	20	100.0%		100.0%
Sun Outdoors Cape May(6)	RV	Cape May	NJ	100	250	100.0%		N/A
Sun Retreats Avalon(3)	RV	Cape May Court House	NJ	460	70	100.0%		100.0%
Sun Retreats Cape May Wildwood(3)	RV	Cape May	NJ	480	150	100.0%		100.0%
Sun Retreats Long Beach Island(3)	RV	Barnegat	NJ	180	30	100.0%		100.0%
Sun Retreats Pleasant Acres Farm(3)	RV	Sussex	NJ	160	130	100.0%		100.0%
Sun Retreats Sea Isle(3)	RV	Clermont	NJ	690	20	100.0%		100.0%
Sun Retreats Seashore(3)	RV	Cape May	NJ	450	230	100.0%		100.0%
New Jersey Total				2,970	1,070	100.0%		100.0%
New York
Cherrywood	MH	Clinton	NY	180	—	98.9%		93.8%	(1)
Jellystone Park™ at Birchwood Acres(6)	MH	Greenfield Park	NY	—	—	100.0%		100.0%
Jellystone Park™ at Birchwood Acres RV Resort(6)	RV	Greenfield Park	NY	130	180	100.0%		100.0%
Jellystone Park™ at Gardiner(3)	RV	Gardiner	NY	20	310	100.0%		100.0%
Jellystone Park™ of Western New York(3)	RV	North Java	NY	10	340	100.0%		100.0%
Kittatinny Campground & RV Resort(3)	RV	Barryville	NY	—	330	N/A	N/A
Parkside Village	MH	Cheektowaga	NY	160	—	99.4%		100.0%
Sky Harbor	MH	Cheektowaga	NY	520	—	98.7%		97.7%
Sun Outdoors Association Island(3)	RV	Henderson	NY	40	260	100.0%		100.0%
Sun Retreats Adirondack Gateway	RV	Gansevoort	NY	340	—	100.0%		100.0%
The Villas at Calla Pointe	MH	Cheektowaga	NY	120	—	100.0%		100.0%
New York Total				1,520	1,420	99.3%		98.5%
OTHER
Sun Outdoors Orange Beach(3)	RV	Orange Beach	AL	—	500	N/A	N/A
Fort Dupont	RV	Delaware City	DE	—	—	N/A	N/A
High Point Park	MH	Frederica	DE	410	—	98.3%		97.8%
Jellystone Park™ at Delaware Beaches(3)	RV	Delaware City	DE	—	260	N/A	N/A
Sea Air Village	MH	Rehoboth Beach	DE	380	—	99.2%		99.2%
Sea Air Village RV Resort(3)	RV	Rehoboth Beach	DE	120	10	100.0%		100.0%
Sun Outdoors Rehoboth Bay(6)	RV	Millsboro	DE	10	290	100.0%		N/A
Sun Retreats Rehoboth Bay	MH	Millsboro	DE	200	—	100.0%		95.0%

Property Name · MH / RV · City / County (UK Only) · State / Country · MH and Annual RV Sites as of 12/31/2023 · Transient RV Sites as of 12/31/2023 · Occupancy as of 12/31/2023 · Occupancy as of 12/31/2022
Sun Retreats Rehoboth Bay RV Resort	RV	Millsboro	DE	300	—	100.0%		100.0%
Countryside Village of Atlanta	MH	Lawrenceville	GA	260	—	98.9%		99.2%
Countryside Village of Gwinnett	MH	Buford	GA	330	—	100.0%		98.2%
Countryside Village of Lake Lanier	MH	Buford	GA	550	—	99.6%		99.1%
Wymberly	MH	Martinez	GA	280	—	81.9%	(1)	78.3%	(1)
Autumn Ridge	MH	Ankeny	IA	410	—	97.8%		97.6%
Jellystone Park™ of Chicago(3)	RV	Millbrook	IL	150	240	100.0%		100.0%
Maple Brook	MH	Matteson	IL	440	—	99.3%		99.8%
Oak Ridge	MH	Manteno	IL	430	—	99.5%		99.8%
Sun Retreats Rock River(3)	RV	Hillsdale	IL	270	230	100.0%		100.0%
Wildwood Community	MH	Sandwich	IL	480	—	99.2%		99.2%
Jellystone Park™ at Mammoth Cave(6)	RV	Cave City	KY	—	330	N/A		N/A
Sun Outdoors New Orleans North Shore(3)	RV	Ponchatoula	LA	—	330	N/A		N/A
Sun Retreats Cape Cod(3)	RV	East Falmouth	MA	80	180	100.0%		100.0%
Sun Retreats Dennis Port(3)	RV	Dennisport	MA	230	20	100.0%		100.0%
Sun Retreats Peters Pond(3)	RV	Sandwich	MA	370	40	100.0%		100.0%
Hyde Park	MH	Easton	MD	240	—	99.6%		100.0%
Jellystone Park™ at Maryland(3)	RV	Williamsport	MD	—	230	N/A		N/A
Southside Landing	MH	Cambridge	MD	100	—	100.0%		100.0%
Sun Outdoors Frontier Town(6)	RV	Berlin	MD	30	660	100.0%		N/A
Sun Outdoors Ocean City(3)	RV	Berlin	MD	—	390	100.0%		100.0%
Sun Outdoors Ocean City Gateway(6)	RV	Whaleyville	MD	20	190	100.0%		N/A
Southern Hills / Northridge Place	MH	Stewartville	MN	470	—	97.7%		97.5%
Jellystone Park™ at Memphis(3)	RV	Horn Lake	MS	—	160	N/A		N/A
Sun Outdoors Yellowstone North(3)	RV	Gardiner	MT	—	80	N/A		N/A
Coastal Estates	MH	Hampstead	NC	150	—	94.8%	(1)	82.5%	(1)
Glen Laurel	MH	Concord	NC	260	—	98.8%		98.8%
Jellystone Park™ at Golden Valley(3)	RV	Bostic	NC	—	360	N/A		N/A
Meadowbrook	MH	Charlotte	NC	320	—	99.7%		100.0%
Sun Retreats Nantahala(3)	RV	Sylva	NC	70	20	100.0%		100.0%
Stoneridge Villas	MH	Gardnerville	NV	—	—	N/A	(1)	N/A	(1)
Sun Villa Estates	MH	Reno	NV	320	—	99.7%		99.1%
Brook Ridge	MH	Hooksett	NH	90	—	100.0%		100.0%
Crestwood	MH	Concord	NH	320	—	99.7%		100.0%
Farmwood Village	MH	Dover	NH	160	—	100.0%		100.0%
Glen Ellis Family Campground(3)	RV	Glen	NH	—	300	N/A		N/A
Hannah Village	MH	Lebanon	NH	80	—	100.0%		100.0%
Hemlocks	MH	Tilton	NH	100	—	100.0%		100.0%
River Pines	MH	Nashua	NH	480	—	99.6%		100.0%
Strafford / Lake Winnipesaukee South KOA(6)	RV	Strafford	NH	10	130	100.0%		N/A
Westward Shores Cottages & RV Resort(3)	RV	West Ossipee	NH	430	70	100.0%		100.0%
Apple Creek	MH	Amelia	OH	180	—	98.9%		98.3%
East Fork Crossing	MH	Batavia	OH	350	—	99.4%		100.0%
Oakwood Village	MH	Miamisburg	OH	510	—	99.0%		98.8%
Orchard Lake	MH	Milford	OH	150	—	99.3%		98.0%
Sun Retreats Geneva on the Lake(3)	RV	Geneva on the Lake	OH	510	120	100.0%		100.0%
Westbrook Senior Village	MH	Toledo	OH	110	—	100.0%		100.0%
Westbrook Village	MH	Toledo	OH	340	—	97.7%		94.5%
Willowbrook Place	MH	Toledo	OH	270	—	97.4%		95.1%
Woodside Terrace	MH	Holland	OH	440	—	96.4%		95.7%
Country Village Estates	MH	Oregon City	OR	520	—	100.0%		100.0%

Property Name · MH / RV · City / County (UK Only) · State / Country · MH and Annual RV Sites as of 12/31/2023 · Transient RV Sites as of 12/31/2023 · Occupancy as of 12/31/2023 · Occupancy as of 12/31/2022
Forest Meadows	MH	Philomath	OR	130	—	72.9%	(1)	58.1%	(1)
Sun Outdoors Bend(3)	RV	Bend	OR	—	120	N/A		N/A
Sun Outdoors Coos Bay(3)	RV	Coos Bay	OR	—	80	N/A		N/A
Sun Outdoors Portland South(3)	RV	Wilsonville	OR	—	130	N/A		N/A
Woodland Park Estates	MH	Eugene	OR	400	—	100.0%		99.7%
Countryside Estates	MH	Mckean	PA	300	—	98.7%		98.7%
Jellystone Park™ at Quarryville(3)	RV	Quarryville	PA	—	260	N/A		N/A
Pheasant Ridge	MH	Lancaster	PA	550	—	99.6%		99.8%
River Beach Campsites & RV	RV	Milford	PA	—	—	N/A		N/A
Sun Retreats Lancaster County(3)	RV	Narvon	PA	290	140	100.0%		100.0%
Country Lakes	MH	Little River	SC	140	—	100.0%		100.0%
Crossroads	MH	Aiken	SC	170	—	94.0%	(1)	92.3%	(1)
Crossroads RV Resort	RV	Aiken	SC	20	—	100.0%		100.0%
Lakeside Crossing	MH	Conway	SC	690	—	98.4%		94.8%	(1)
Ocean Pines	MH	Garden City	SC	580	—	99.8%		99.8%
Southern Palms	MH	Ladson	SC	190	—	100.0%		100.0%
Sun Outdoors Myrtle Beach(3)	RV	Conway	SC	160	670	100.0%		100.0%
Bell Crossing	MH	Clarksville	TN	240	—	97.0%		99.6%
Sun Outdoors Pigeon Forge(3)	RV	Sevierville	TN	70	240	100.0%		100.0%
Bear Lake Development Land	RV	Garden City	UT	—	—	N/A	(1)	N/A	(1)
Sun Outdoors Arches Gateway(3)	RV	Moab	UT	—	130	N/A		N/A
Sun Outdoors Canyonlands Gateway(3)	RV	Moab	UT	—	110	N/A		N/A
Sun Outdoors Garden City Utah(3)	RV	Garden City	UT	—	180	N/A		N/A
Sun Outdoors Moab Downtown(3)	RV	Moab	UT	—	130	N/A		N/A
Sun Outdoors North Moab(3)	RV	Moab	UT	—	190	N/A		N/A
Sun Outdoors Salt Lake City(3)	RV	North Salt Lake	UT	—	190	N/A		N/A
47 North	MH	Cle Elum	WA	—	—	N/A	(1)	N/A	(1)
Sun Outdoors Gig Harbor(3)	RV	Gig Harbor	WA	—	110	N/A		N/A
Sun Retreats Birch Bay(3)	RV	Blaine	WA	370	300	100.0%		100.0%
Fond du Lac East / Kettle Moraine KOA(3)	RV	Glenbeulah	WI	240	80	100.0%		100.0%
Thunderhill Estates	MH	Sturgeon Bay	WI	270	—	98.9%		98.1%
Other Total				17,540	8,200	98.7%		98.1%
US TOTAL / AVERAGE				128,010	24,810	97.3%		96.7%
CANADA
Pleasant Beach Campground	RV	Sherkston	ON	100	—	100.0%		100.0%
Sun Retreats Amherstburg(3)	RV	Amherstburg	ON	220	80	100.0%		100.0%
Sun Retreats Arran Lake	RV	Allenford	ON	190	—	100.0%		100.0%
Sun Retreats Blue Mountains(3)	RV	Clarksburg	ON	90	20	100.0%		100.0%
Sun Retreats Cayuga(3)	RV	Cayuga	ON	250	30	100.0%		100.0%
Sun Retreats Flamborough	RV	Millgrove	ON	200	—	100.0%		100.0%
Sun Retreats Georgian Bay(3)	RV	Seguin	ON	230	10	100.0%		100.0%
Sun Retreats Hay Bay(3)	RV	Napanee	ON	200	10	100.0%		100.0%
Sun Retreats Huntsville	RV	Huntsville	ON	230	—	100.0%		100.0%
Sun Retreats Ipperwash(3)	RV	Lambton Shores	ON	140	20	100.0%		100.0%
Sun Retreats Penetanguishene(3)	RV	Tiny	ON	220	40	100.0%		100.0%
Sun Retreats Sandbanks	RV	Cherry Valley	ON	140	—	100.0%		100.0%
Sun Retreats Sherkston Shores(3)	RV	Sherkston	ON	1,700	240	100.0%		100.0%
Sun Retreats Stratford	RV	Bornholm	ON	210	—	100.0%		100.0%
Sun Retreats Turkey Point(3)	RV	Normandale	ON	210	30	100.0%		100.0%

Property Name · MH / RV · City / County (UK Only) · State / Country · MH and Annual RV Sites as of 12/31/2023 · Transient RV Sites as of 12/31/2023 · Occupancy as of 12/31/2023 · Occupancy as of 12/31/2022
Sun Retreats Willow Lake	RV	Scotland	ON	370	—	100.0%			100.0%
CANADA TOTAL / AVERAGE				4,700	480	100.0%			100.0%
NORTH AMERICA TOTAL				132,710	25,290	97.4%			96.8%
UNITED KINGDOM
England
Alberta(3)	MH	Whitstable, Kent	England	330	10	94.5%			93.6%
Amble Links	MH	Amble, Northumberland	England	660	—	91.2%			93.6%
Ashbourne Heights(3)	MH	Ashbourne, Derbyshire	England	110	120	90.4%			90.2%
Beauport	MH	Hastings, Sussex	England	820	—	94.3%			95.1%
Birchington Vale	MH	Birchington, Kent	England	490	—	97.3%			97.1%
Bodmin Holiday Park (formerly Cornwall)(3)	MH	Bodmin, Cornwall	England	10	60	69.2%		(1)	64.3%
Bowland Fell(3)	MH	Skipton, Yorkshire	England	270	40	86.0%			88.4%
Broadland Sands(3)	MH	Lowestoft, Suffolk	England	440	180	95.7%			91.0%
Carlton Meres(3)	MH	Saxmundham, Suffolk	England	350	180	89.3%			86.7%
Chantry	MH	West Witton, Yorkshire	England	140	—	79.1%			77.9%
Chichester Lakeside(3)	MH	Chichester, Sussex	England	500	100	94.2%			93.0%
Coghurst Hall(3)	MH	Hastings, Sussex	England	490	30	92.0%			92.8%
Dawlish Sands	MH	Dawlish, Devon	England	170	—	91.6%			94.6%
Dovercourt(3)	MH	Harwich, Essex	England	530	110	91.0%			92.8%
Felixstowe Beach(3)	MH	Felixstowe, Suffolk	England	330	10	89.7%			95.4%
Glendale(3)	MH	Wigton, Cumbria	England	350	30	71.4%			93.2%
Golden Sands(3)	MH	Dawlish, Devon	England	300	120	86.6%			80.6%
Harts(3)	MH	Isle of Sheppey, Kent	England	480	160	87.2%			87.6%
Hedley Wood(3)	MH	Holsworthy, Devon	England	80	170	66.7%		(1)	63.2%
Henfold	MH	Dorking, Surrey	England	—	—	N/A	(1)	N/A	(1)
Hengar Manor(3)	MH	Bodmin, Cornwall	England	120	60	80.9%			80.2%
Littondale(3)	MH	Skipton, Yorkshire	England	90	10	92.2%			88.3%
Malvern View(3)	MH	Stanford Bishop, Worcester	England	320	30	87.2%			89.1%
Marlie(3)	MH	Romney, Kent	England	380	130	90.9%			91.8%
Martello Beach(3)	MH	Clacton on Sea, Essex	England	460	100	90.0%			86.6%
New Beach(3)	MH	Dymchurch, Kent	England	510	90	95.5%			93.0%
Newhaven(3)	MH	Buxton, Derbyshire	England	80	120	79.3%			90.7%
Oaklands	MH	Clacton on Sea, Essex	England	290	—	88.4%			93.2%
Old Kerrow	MH	Ilfracombe, Devon	England	—	—	N/A		N/A	(2)
Oyster Bay	MH	Truro, Cornwall	England	160	—	71.3%			87.4%
Pakefield(3)	MH	Pakefield, Suffolk	England	320	30	91.4%			88.4%
Par Sands(3)	MH	Par, Cornwall	England	280	20	92.6%			94.4%
Pentire(3)	MH	Bude, Cornwall	England	120	10	92.3%			93.2%
Pevensey Bay(3)	MH	Pevensey Bay, Sussex	England	350	100	89.5%			87.2%
Polperro(3)	MH	Looe, Cornwall	England	70	90	71.6%			54.1%
Ribble Valley	MH	Clitheroe, Lancashire	England	310	—	80.2%			85.4%
Rye Harbour	MH	Rye, Sussex	England	240	—	89.3%			88.8%
Sand le Mere(3)	MH	Hull, Yorkshire	England	690	210	86.1%			77.8%

Property Name · MH / RV · City / County (UK Only) · State / Country · MH and Annual RV Sites as of 12/31/2023 · Transient RV Sites as of 12/31/2023 · Occupancy as of 12/31/2023 · Occupancy as of 12/31/2022
Sandhills(3)	MH	Christchurch, Dorset	England	130	10	88.8%			92.5%
Sandy Bay	MH	Canvey Island, Essex	England	730	—	80.0%			80.0%
Seaview(3)	MH	Whitstable, Kent	England	590	60	95.6%			97.6%
Seawick(3)	MH	Clacton on Sea, Essex	England	580	90	93.5%			90.3%
Solent Breezes(3)	MH	Fareham, Hampshire	England	250	10	91.9%			87.9%
St. Osyth Beach(3)	MH	Clacton on Sea, Essex	England	480	30	94.6%			96.8%
Steeple Bay(3)	MH	Sothminster, Essex	England	450	80	89.9%			89.2%
Stowford	MH	Ilfracombe, Devon	England	—	—	N/A	(1)	N/A	(2)
Suffolk Sands(3)	MH	Felixstowe, Suffolk	England	360	20	94.4%			94.6%
Tarka(3)	MH	Barnstaple, Devon	England	120	10	87.3%			93.5%
Trevella(3)	MH	Newquay, Cornwall	England	180	180	88.0%			91.6%
Vernon Dene	MH	North Ripley, Bransgore	England	—	—	N/A	(1)	N/A	(1)
Waterside(3)	MH	Paignton, Devon	England	200	30	87.4%			91.3%
West Mersea(3)	MH	West Mersea, Essex	England	400	40	96.8%			97.5%
Winchelsea Sands(3)	MH	Winchelsea, Sussex	England	260	10	85.1%			82.9%
Wood Farm(3)	MH	Charmouth, Dorset	England	130	110	83.1%			90.4%
Yorkshire Dales	MH	Leyburn, Yorkshire	England	110	—	83.9%			79.4%
England Total				16,610	3,000	89.6%			90.4%
Scotland
Burghead(3)	MH	Burghead, Moray	Scotland	80	20	63.8%			67.5%
Lossiemouth(3)	MH	Lossiemouth, Moray	Scotland	130	20	72.1%			76.0%
Silver Sands(3)	MH	Lossiemouth, Moray	Scotland	420	110	93.6%			94.2%
Turnberry(3)	MH	Girvan, Ayrshire	Scotland	260	20	80.5%			83.5%
Scotland Total				890	170	84.0%			85.9%
Wales
Brynteg(3)	MH	Llanryg, Caernafon	Wales	290	30	92.5%			94.9%
Plas Coch	MH	Llanedwen, Anglesey	Wales	320	—	95.7%			95.1%
Wales Total				610	30	94.2%			95.0%
UNITED KINGDOM TOTAL				18,110	3,200	89.5%			89.9%
COMPANY TOTAL / AVERAGE				150,820	28,490	96.4%			96.0%

(1)Occupancy in these properties reflects the fact that these properties are held for future development or are in a lease-up phase following an expansion, redevelopment or initial construction.

(2)No occupancy in these properties for the year ended December 31, 2022 as properties were acquired during the year ended December 31, 2023.

(3)Occupancy percentage excludes transient RV sites. Percentage calculated by dividing revenue producing sites by developed sites. A revenue producing site is defined as a site that is occupied by a paying resident or reserved by a customer with annual or seasonal usage rights. A developed site is defined as an adequately sized parcel of land that has road and utility access which is zoned and licensed (if required) for use as a home site.

(4)Occupancy in these properties at December 31, 2022 reflects the redevelopment following asset impairments resulting from Hurricane Ian in October 2022.

(5)Occupancy in these properties at December 31, 2022 reflects the redevelopment following asset impairments resulting from Hurricane Irma in September 2017.

(6)We have an ownership interest in these properties, but do not maintain and operate these properties.

The following tables set forth certain information relating to our Safe Harbor branded marinas as of December 31, 2023.

Marina Property Name	City	State / Municipal	Wet Slips and Dry Storage Spacesas of 12/31/2023	Wet Slips and Dry Storage Spacesas of 12/31/2022
UNITED STATES
NORTHEAST
Connecticut
Bruce & Johnsons	Branford	CT	670	670
Dauntless(1)	Essex	CT	340	340
Dauntless Shipyard(1)	Essex	CT	—	—
Deep River	Deep River	CT	310	310
Essex Island(1)	Essex	CT	—	—
Ferry Point	Old Saybrook	CT	140	140
Harbor House(2)	Stamford	CT	—	—
Mystic	Mystic	CT	260	260
Pilots Point	Westbrook	CT	880	880
Stratford	Stratford	CT	210	210
Yacht Haven(2)	Stamford	CT	520	520
Connecticut Total			3,330	3,330
Rhode Island
Allen Harbor	North Kingstown	RI	180	140
Cove Haven	Barrington	RI	340	340
Cowesett(3)	Warwick	RI	1,190	1,190
Greenwich Bay	Warwick	RI	550	550
Island Park(4)	Portsmouth	RI	—	—
Jamestown Boatyard	Jamestown	RI	110	110
New England Boatworks	Portsmouth	RI	230	230
Newport Shipyard	Newport	RI	70	70
Sakonnet(4)	Portsmouth	RI	420	420
Silver Spring	Wakefield	RI	110	110
Wickford(5)	Wickford	RI	—	—
Wickford Cove(5)	Wickford	RI	260	260
Rhode Island Total			3,460	3,420
New York
Capri	Port Washington	NY	370	370
Gaines	Rouses Point	NY	290	290
Glen Cove	Glen Cove	NY	540	540
Greenport(6)	Greenport	NY	420	420
Haverstraw	West Haverstraw	NY	900	900
Montauk Yacht Club	Montauk	NY	230	230
Post Road	Mamaroneck	NY	50	50
Stirling(6)	Greenport	NY	—	—
Willsboro Bay	Willsboro	NY	220	220
New York Total			3,020	3,020
Massachusetts
Edgartown	Edgartown	MA	120	120
Fiddler's Cove	North Falmouth	MA	200	200
Green Harbor	Marshfield	MA	200	200
Hawthorne Cove	Salem	MA	450	450
Marina Bay	Quincy	MA	700	700
Onset Bay	Buzzards Bay	MA	230	230

Marina Property Name	City	State / Municipal	Wet Slips and Dry Storage Spacesas of 12/31/2023	Wet Slips and Dry Storage Spacesas of 12/31/2022
Plymouth	Plymouth	MA	200	200
Sunset Bay	Hull	MA	240	240
Vineyard Haven	Vineyard Haven	MA	180	180
Massachusetts Total			2,520	2,520
Maryland
Annapolis	Annapolis	MD	290	290
Bohemia Vista	Chesapeake Bay	MD	130	120
Carroll Island	Baltimore	MD	460	460
Great Oak Landing	Chestertown	MD	390	400
Hacks Point	Chesapeake Bay	MD	70	70
Narrows Point(7)	Grasonville	MD	390	540
Oxford	Oxford	MD	140	140
Podickory Point	Annapolis	MD	310	310
Zahnisers	Solomons	MD	300	300
Maryland Total			2,480	2,630
New Jersey
Crystal Point	Point Pleasant	NJ	170	170
Manasquan River	Brick Township	NJ	240	240
New Jersey Total			410	410
Maine
Great Island	Harpswell	ME	140	140
Kittery Point	Kittery	ME	60	60
Rockland	Rockland	ME	50	50
Maine Total			250	250
New Hampshire
Wentworth by the Sea	New Castle	NH	220	220
New Hampshire Total			220	220
Vermont
Shelburne Shipyard	Shelburne	VT	210	210
Vermont Total			210	210
SOUTH
Georgia
Aqualand	Flowery Branch	GA	1,570	1,570
Bahia Bleu	Thunderbolt	GA	260	260
Hideaway Bay	Flowery Branch	GA	690	690
Savannah Yacht Center(8)	Savannah	GA	20	N/A
Trade Winds	Appling	GA	320	320
Georgia Total			2,860	2,840
Kentucky
Beaver Creek	Monticello	KY	280	280
Burnside	Somerset	KY	350	350
Grider Hill	Albany	KY	710	710
Jamestown	Jamestown	KY	740	740
Wisdom Dock	Albany	KY	290	290

Marina Property Name	City	State / Municipal	Wet Slips and Dry Storage Spacesas of 12/31/2023	Wet Slips and Dry Storage Spacesas of 12/31/2022
Kentucky Total			2,370	2,370
Texas
Emerald Point	Austin	TX	590	590
Pier 121	Lewisville	TX	1,080	1,080
Walden	Montgomery	TX	390	390
Texas Total			2,060	2,060
Arkansas
Brady Mountain	Royal	AR	580	580
Arkansas Total			580	580
Tennessee
Eagle Cove	Byrdstown	TN	80	80
Holly Creek	Celina	TN	310	310
Tennessee Total			390	390
Mississippi
Aqua Yacht	Iuka	MS	590	590
Mississippi Total			590	590
Alabama
Sportsman	Orange Beach	AL	760	720
Alabama Total			760	720
Oklahoma
Harbors View	Afton	OK	160	160
Oklahoma Total			160	160
SOUTHEAST
Florida
Angler House	Islamorada	FL	20	20
Burnt Store	Punta Gorda	FL	910	760
Calusa Island	Goodland	FL	620	620
Cape Harbour	Cape Coral	FL	260	260
Emerald Coast	Niceville	FL	350	350
Harborage Yacht Club	Stuart	FL	310	310
Harbortown	Fort Pierce	FL	350	350
Islamorada	Islamorada	FL	260	260
Lauderdale Marine Center(9)	Fort Lauderdale	FL	130	130
Marathon	Marathon	FL	160	160
New Port Cove	Riviera Beach	FL	360	360
North Palm Beach	North Palm Beach	FL	120	120
Old Port Cove	North Palm Beach	FL	210	210
Pier 77	Bradenton	FL	200	200
Pineland	Bokeelia	FL	260	260
Port Phoenix(10)	North Fort Myers	FL	—	—
Regatta Pointe	Palmetto	FL	370	370
Riviera Beach	Riviera Beach	FL	20	20
Siesta Key	Sarasota	FL	230	230
South Fork(9)	Fort Lauderdale	FL	—	—
West Palm Beach	West Palm Beach	FL	60	60

Marina Property Name	City	State / Municipal	Wet Slips and Dry Storage Spacesas of 12/31/2023	Wet Slips and Dry Storage Spacesas of 12/31/2022
Florida Total			5,200	5,050
South Carolina
Beaufort	Beaufort	SC	130	130
Bristol	Charleston	SC	190	190
Charleston City(11)	Charleston	SC	450	450
City Boatyard	Charleston	SC	220	220
Port Royal	Port Royal	SC	250	250
Port Royal Landing	Port Royal	SC	160	160
Reserve Harbor	Pawleys Island	SC	230	230
Skull Creek	Hilton Head	SC	190	190
South Carolina Total			1,820	1,820
North Carolina
Jarrett Bay Boatworks	Beaufort	NC	40	40
Kings Point	Cornelius	NC	780	780
Outer Banks	Wanchese	NC	210	210
Peninsula Yacht Club	Cornelius	NC	480	480
Skippers Landing	Troutman	NC	390	390
South Harbour Village	Southport	NC	140	140
Westport	Denver	NC	620	620
North Carolina Total			2,660	2,660
Puerto Rico
Puerto del Rey	Fajardo	PR	1,610	1,610
Puerto Rico Total			1,610	1,610
Virginia
Bluewater	Hampton	VA	200	200
Stingray Point	Deltaville	VA	220	220
Virginia Total			420	420
MIDWEST
Michigan
Belle Maer	Harrison Township	MI	550	550
Detroit River	Detroit	MI	470	470
Grand Isle	Grand Haven	MI	450	450
Great Lakes	Muskegon	MI	470	470
Jefferson Beach	St. Clair Shores	MI	900	900
Toledo Beach	La Salle	MI	580	470
Tower Marine	Douglas	MI	480	480
Michigan Total			3,900	3,790
Ohio
Lakefront	Port Clinton	OH	490	490
Sandusky	Sandusky	OH	550	550
Ohio Total			1,040	1,040
WEST
California
Anacapa Isle	Oxnard	CA	540	540
Ballena Isle	Alameda	CA	420	420

Marina Property Name	City	State / Municipal	Wet Slips and Dry Storage Spacesas of 12/31/2023	Wet Slips and Dry Storage Spacesas of 12/31/2022
Bayfront	Chula Vista	CA	620	620
Cabrillo Isle	San Diego	CA	540	540
Emeryville	Emeryville	CA	460	460
Loch Lomond	San Rafael	CA	530	530
Marina Bay Yacht Harbor	Richmond	CA	800	800
Shelter Island	San Diego	CA	60	60
South Bay	Chula Vista	CA	560	560
Sunroad	San Diego	CA	650	650
Ventura Isle	Ventura	CA	530	530
California Total			5,710	5,710
COMPANY TOTAL			48,030	47,820

(1)Wet slips and dry storage spaces from Dauntless Shipyard and Essex Island are grouped into Dauntless.

(2)Wet slips and dry storage spaces from Harbor House are grouped into Yacht Haven.

(3)Wet slips and dry storage spaces from Apponaug Harbor are grouped into Cowesett.

(4)Wet slips and dry storage spaces from Island Park are grouped into Sakonnet.

(5)Wet slips and dry storage spaces from Wickford are grouped into Wickford Cove.

(6)Wet slips and dry storage spaces from Stirling are grouped into Greenport.

(7)Wet slips and dry storage spaces from Harrison Yacht Yard are grouped into Narrows Point.

(8)Property acquired during year ended December 31, 2023.

(9)Wet slips and dry storage spaces from South Fork are grouped into Lauderdale Marine Center.

(10)Property is temporarily used to store hurricane-affected vessels, which will be converted to a development site.

(11)Wet slips and dry storage spaces from Ashley Fuels are grouped into Charleston City.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.